Your Billing Rights

A FINANCE CHARGE OF 1% per month (ANNUAL PERCENTAGE RATE OF 12%) is applied to the "adjusted balance" due on the 10th of each month. The adjusted balance is calculated by taking the previous balance on your statement and subtracting any credits and payments. To avoid a finance charge, your payment in full must reach the Student Accounts Office by the due date on the bill.

YOUR BILLING RIGHTS: This notice contains important information about your rights and responsibilities under the Fair Credit Act.

Notify us in case of errors or questions about your bill: If you think your bill is wrong, or if you need more information about a transaction on your bill, write to us (on a separate sheet from your bill) at the Student Accounts Office, College of St. Benedict, 37 South College Avenue, St. Joseph, MN 56374. Write to us as soon as possible. We must hear from you no later than 60 days after we sent the first bill on which the error or problems appeared. You may telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:I. Your name and I.D. numberII. The dollar amount of the suspected errorIII. Describe the error and explain, if you can, why you believe this is an error; if you need more information, describe the item about which you are uncertain.

Your rights and responsibilities after we receive your written notice:I. We must acknowledge your letter within 30 business days, unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the bill is correct.II. After we receive your letter, we cannot try to collect any amount in question, or report you as delinquent. We can continue to bill you for the amount you question, including finance charges. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the portion of your bill that is not in question.III. If we find that we made a mistake on your bill, you will not have to pay any finance charges related to any questioned amount. If we did not make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.IV. If you fail to pay the amount we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you, and you write to us within ten days telling us that you still refuse to pay, we must tell anyone to whom we report you that you have a question about your bill. We must also tell you the name of anyone to whom we report you. We must tell anyone to whom we report you that the matter has been settled between us when it finally is settled.V. If we do not follow these rules, we cannot collect the first $50 of the questioned amount even if your bill was correct.

NOTICE

Any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained or with the proceeds. Recovery by the debtor shall not exceed the amounts paid by the debtor.